Global Suspension System Market Share, Size, Estimates, Trends and Forecast 2023

According to Stratistics MRC, the Global Suspension System Market is accounted for $55.10 billion in 2016 and is expected to reach $91.68 billion by 2023 growing at a CAGR of 7.5% during the forecast period.

Factors such as rising demand for luxury & comfort and regenerative suspension systems for electric & hybrid vehicles and rising vehicle fabrication are fueling the market growth. However, high expansion & implementation price of superior suspension systems affecting the growth of the market. One of the major opportunities in the market is advanced suspension systems for hybrid and electric vehicles.

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Suspension is the system of tires, safeguards, springs, shock absorbers and linkages that connects a vehicle to its wheels and allows relative motion between the two. It should support roadholding /handling and ride quality. The suspension also protects the vehicle itself and any freight or gear from harm and wear. Suspension is growing mainly due to increase in demand for automobiles.

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By Component, air compressor is a machine that transforms power into potential energy reserved in pressurized air. An air compressor must be separated from a pneumatic machine which only pumps air from one setting into another. Air pumps don't contain an air tank for storing pressurized air and are generally much slower, calmer, and more affordable to own and control than an air compressor.

By Geography, Asia Pacific is expected to grow at the highest CAGR during the forecast period attributed to the increasing demand for advanced suspension systems. There is growing demand for advanced automotive suspension systems in emerging countries of Asia pacific such as India and China.

Some of the key players in Suspension System market include Zf Friedrichshafen AG, Wabco Holdings Inc., Bose Corporation, Thyssenkrupp AG, Tenneco Inc., Schaeffler AG, Mando Corporation, Magneti Marelli S.P.A., KYB Corporation, Continental AG, BWI Group, Benteler International AG, Hitachi Automotive Systems, Ltd., LORD Corporation and Eaton Corporation Plc.

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Components Covered:
• Air Compressor
• Air Spring
• Ball Joint
• Controller/Control Arms
• Leaf Spring
• Shock Dampener
• Struts

Damping Types Covered:
• Electromagnetically Damped Suspension System
• Hydraulically/Pneumatically Damped Suspension System

Architectures Covered:
• Semi-Independent/Independent Suspension System
• Double Wishbone
• Dependent Suspension System
• Macpherson Strut

Vehicle Types Covered:
• Commercial Vehicle
• Passenger Vehicle

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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Release ID: 290339